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As Amazon grows, it makes sense for its failures to grow at a larger scale too.⁣ ⁣ Remember the Amazon Fire phone? Not many people do — it cost the company $170 million and was discontinued in 2015. That’s an example of a bet that didn’t turn out, and one that Amazon CEO Jeff Bezos specifically called out in his annual shareholder letter.⁣ ⁣ Bezos’ letter seems to be a warning that not all of Amazon’s bets will work out. This comes as Amazon plans its expansion into new sectors like health care, health insurance, internet delivery from outer space and even consumer robotics.⁣ ⁣ To read more from the letter, click the link in bio.⁣ ⁣ *⁣ *⁣ *⁣ *⁣ *⁣ *⁣ *⁣ *⁣ #amazon #amzn #jeffbezos #bezos #retail #ecommerce #commerce #business #businessnews #cnbc⁣

A post shared by CNBC (@cnbc) on Apr 14, 2019 at 3:55am PDT

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While some people were worried about the end of the world and low-rise jeans in 1999, Jeff Bezos was busy building an empire. He shared his ambitious vision for Amazon with CNBC in this interview back in 1999. Bezos made clear the company’s focus was on “great customer service” and discussed his real estate strategy. Bezos said: “There’s no guarantee that Amazon.com can be a successful company. What we’re trying to do is very complicated.” He added, “Scale is important to us and we’re going to go after that kind of scale.” #JeffBezos #Amazon #Dotcom #1999 #CNBCclassics #Success #Retail #business #History #Internet #Ecommerce #CNBC

A post shared by CNBC (@cnbc) on Mar 27, 2019 at 3:14pm PDT

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In 1994, a 30-year-old named Jeff Bezos was working at hedge fund D.E. Shaw when he had the idea that would become @amazon. Amazon.com officially debuted in 1995 – founded in Bezos’s Bellevue, Wash., garage – as a bookseller. So far, Amazon has managed to dominate e-commerce and branched out into logistics, music, cloud services, grocery stores — it bought Whole Foods! — and producing Emmy-winning television series. This is the origin story. Read more at the link in bio.⠀ *⠀ *⠀ *⠀ *⠀ *⠀ #YahooFinance #finance #amazon #origin #originstory #jeff #jeffbezos #bezos #retail #america #us #usa #complex #web #internet #company

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On this day in 1999: Jeff Bezos named Time’s Person of the Year

Amazon’s revenue
in 1999: $1.6 billion

Amazon’s revenue
in 2018 (forecast): $232.5 billion pic.twitter.com/pQNEoEy8qI

— Jon Erlichman (@JonErlichman) December 27, 2018

Jeff Bezos’ net worth every 10 years:

2018: $140 billion
(age 54)

2008: $8.2 billion
(age 44)

1998: $1.6 billion
(age 34) pic.twitter.com/AEOSrauKbq

— Jon Erlichman (@JonErlichman) December 3, 2018